Evening Star Newspaper, April 24, 1930, Page 13

PRIGES ARE STEADY OND. . EXCHANGE| = compliation of teda; hfidfil'l. !mfllvhr:hlnflmht“ Smafl-Lot Trading Feature of & Session—New F. H. Smith Protectiye Committee. BY EPDWARD C. STONE. Prices Were steady on. the Washington Stock Exchange today with quite s wide variety 4n small lot trading. Oapital 'IWM the market at 'n :nd closed. 71% on a turnover shares. “Five 10-share lots of Oulumbtl e;nd .u. QGravel preferred came «:u". :: , Mergenthaler - Linotype opent 107 and closed at 107X, with 30 shares Pony- four :hxul of Carpel tion moved at 26, and 50 more soi at 113, and the 512 per cent issue at l“lra ‘Twelve shares of Washington iway & Electric' preferred moved at % In the bond division $1,000 Railway & Electric 4s sold at 87%, and $500 changed hands at l’l‘& ‘Washington Gas 6s, series B, in a $6,000 transaction at 105%, l.nd $500 more nwved at 105%. Washington Gas 58 S reanington Gas. Lignt stock, Wash as stock, - ington Loan & Trust and National Sav- ings & Trust are being quoted ex-divi- dend. American Fire Insurance is also to pay a dividend in a few days. New F. H. Smith Protective Group. Owners of the preferred stock of the F. H. Smith Co. have been notified of the formation in New York City of a new protective committee, composed of Harry M. Blair, president of Assoclated Bond & Share Corporation, as chair- man; George R. Blkzr, vice president National & Chlthlm ‘Trust Co.; William F. Idwnrds. resi- dent of Westchester Corporation; C. 8. Nndn.u. vice resident of the Pennsylvania Co. for urance on Lives and Grmunl Annuities of Philadelphia, and Hambleton Ober, vice president o( Baltimore Trust Co. of Baltimore. J. W. Montgomery Again Heads Acacia. William Montgomery, who has been at the head of the Acacia Mutual Life Association for more than 38 years, was ent at the annual meet- sistant treasurer. url.n. Mr. Montgomery's affiliation pying in fih! Cnpllll having branches in lead- ties throughout the Nation, and ‘with lppmxlmntcly $350,000,000 of in- surance in force. :"clarly apparent that a new high mark will be established for this period. Investment Trust Resources. ‘The net resources of & number of yepresentative investment trusts show nlm 'Aryln' from 13 per cent to more 27 per cent at the end of the gurm' as compared with em- 1, 1929, according to a survey "P\lblu: by Anllyl! Associates, Inc. of the individual com- mmdthznwp.mwwdonuu ‘m earned upon aver- em :&“’ elismn yed, show a rather averages neral use. The com) e results definitely favor tha invest- to_the stocks The purpose of this study is to out the important factors one consider in purchasing investment trust stocks such as managerial accomplish- nmt, relation of mm“l'z:‘em ",’, market price, common stock and other capitalization characterist ' Belter Business Indicated. ‘The report that new life insurance written in Wi in March was 15 cent ahead March 1929 is held local bankers as an indication that Heard in Financial Distriet. ‘Beginning next Monday, April 28, the New York Stock Exchange will run on daylight-saving time, opening at 9 a.m., Washington time, and closing at 2 p.m. n vfll close at 11 o'clock, Washington Saturdays. All local broker- 0 btans Wil Coptiorm to thtes: v A. R. Colbert, utility rt, told the Federal Trade Com- n. Mr. Colbert sald the company ob- hlned in this manner 55.6 per cent ol common stock in American Power lé{ht 179 per cent of its Interest ectric Power & Light,* 98.7 per cen! in Lehigh Power Securities Cor- %nunn and 368 per cent in National L t has been suggested in the local flmnflll flhtflct thll the - adoption of daylight saving time by the Govern- ment departments would help solve the move for earlier closing of local banks in the Summer months. No doubt all the business interests in the city, in- cluding the banks, would conform to the dlyllzhc schedle, which would re- in all business closing an hour urller every day. Directors of the Pennsylvania Rail- road Co. confirmed the appointment of James H. Cheston as assistant general solicitor, to become effective May 1. Mr. Cheston, who is now assistant gen- eral solicitor of the Norfolk & Western lefly, succeeds James E. Gowen, who ed to become vice Drulfl!nt of the Philadelphia Sl\h’l' Fund Soclety. POTATO MARKET. CHICAGO, April 24 (#).—(United States Department of Agriculture).— Potatoes—103 cars; on track, 288; total United States shlpmenm 787 cars; old stock trading fair; market stead: n sacked round whites, 3.008 3.25; Minnesota sacked round whites 2.90a3.00; Idaho sacked Russets, 3,75a 3.90; few, 4.00; new stock trading rather slow; market firm; Texas sacked Bliss ‘Triumps, mostly 4.75. U. 8. TREASURY BALANCE. ‘The United States Treasury balance, announced today as of close of business April 22, was $216,683,766.80. Customs receipts for the month to date were 20 “'IG.IxJO‘ '{.l‘g‘ul ordinary expendi- 105 1181 104 2 22% 8% THE EVENING STAR, WASHINGTO:! NEW YORK STOCK EXCHANGE Received by Private Wire Direct to The Star Office. lnl-dluhllnlmhu'u!l. Stock and Dividend Rate. M‘.fl High. Low. Abitibi Pwr & Paper. Abitibi P & P pf (8). Abraham Strauss.... Abraham & 8t pf (7). Adams Exp (1.60). ‘Adams Miliis (2) Advance Rumley. . Alr Way TIAD(3%). Ajax Rubber........ Alaska Juneau. ... Allegheny Corp..... Alleg C pf $30w(51) Alleg C pf $40w (5% ) Allled Ch & Dye(né). Allls-Chalmers (3) Amerada Corp (2)... Am Agricul Ch pf. ... Am Bank Note (13).. Am Brake Shoe(2.40) Am Brown Bov Elec. Am Brown B E pf(7) Am Can (7)... Am Car & Fay (6)... Am Car & Fdy pf(7). 6% Am Chicle (12%4) Am Com Alco(nl. Am & Forn Power. Am Ice Co (14) Am Jce pf (6)... Am Internatl (2) Am La Fr & Foam Am Locomotive (8) Am Locomot pf (7) Am Mach & Fdy (7 Am Metal (3). Am Pwr &Lt (11)... Am Pwr & Lt pf (6).. Am P&Lt pf A st(5). Am Ra&Std San1%.. Am Republics. .. Am Rolling M1l (2)-. Am Safety Razor(5). Am Ship & Com. . Am Sm & Ref (4) Am Solv & Chem.... Am Sol&Ch cv pf(3). H adenaas Am Wat W 1st p£(6). Am Woolen Am Woolen pf. Am Writ Paper otf Am Writ Pa pf (4). AmZine Ld & Sm.... Anaconda Cop (7) . .. 35’ Anaconda W&C ( Asso Appl Ind (4 Asso Dry G (2%) Atch To & S Fe (1 Atl Coast Line (110 AtlGulf & W Indies Atl Guif & W I pf (5’ Atl Refining (12) Atlas Powder (4) % Atlas Stores (1). Auburn Auto (§4 ‘Austin Nichols Austrian Cred ( Autosales Auto-Strop Aviation Corp of Del Baldwin Loco (1%) Beacon Oil. Beatrice Cre % Belding-Hemingway Be: Best&Co (2)....... Bethlehem Steel (6) . Bethlehem Sti pf (7) Blaw-Knox (1%).. Bloomingdale Bros. Blu'thal & Co pf (7). Bohn Al & Brass (3). Bon Ami (A) (4).. Booth Fisherie: Borden Co (k3) £ Borg Warner (4).... Briggs Mfg Co. . Briggs & Strat (2)... British Empire Steel, Brockway Motor Trk Brockway Mot pf(7). Bklyn-Manhat (4)... Brooklyn & Queens Bklyn Union Gas (5) Brown Shoe (3)....s Bruns-Balk-Col..... Bruns Ter & Ry 8. Bueyrus (1).... Bucyrus ev pf (3%). Burns Bros (A) (8). Burr Add Mch (1). % Callf Packing (4). Callaahan Zine & Ld. Calumet & Ariz (6).. Calumet&Hec(ad%). Campbell Wyant (2). Canada Dry G A (5). Canadian Pacific(10) Cannon Mills (2.80).. Capital Adm (A).... Capital Adm A pf(3) 2 3% 3Tw e 80, 1% 1% 145% 142% 31 30% 2% 2 % T%h 31% 30% 104% 108% aas - 19 PYNEPS S§ LTINS 77 149% 146% 58% 57 63% 9% 46% 20% - - 8 o e SafohaansniBuan 116% 112% 104 104 87% 87% 364 35% 33% 32% 90% 88% 65% 65l 2% 1% 17% - ua:nn » R 2384 286% 123% 120% 106% 106% 14% 144 Nunnnanfifldbngumndm&nnnu 105% 105% 171 171 aapaRead 46 1% " 31% '39% 117% 115% 117% 12 7 kid 79 112 112 . 112 3 13 40s 2 118% 113% 0 14% 13% 70 209 208% 29% 28% 26% 26% 39% 39% Car Clin & O sta (5). 1 Case (J 1) (6)... Caterpillr Trac 13% . Cavanaugh-Dobb; Celotex (3).. Century Rib Mill Cerro de Pasco (6) Certain-teed Prod. .. Checker Cab (4.20) .. Ches & Ohlo (10).... Ches & Ohio Corp (3) % Chi& Alton. .. . Chi & Alton pf. . Chi & Eastern I11.. .. Chi Great Western, . Chi Great Westn pf., Chi&N W pt (T)...s Chi Mil StP & Py Chil M1l StP & Pae Chicago & N W (5) Chi Pnen Tool. Chi Pneu T pf Chi R I & Pac (7). Chickasha Cot O ( Childs Co (240). ‘hrysler Corp (3). Cluett-Peabdy pf 7). 4 Coca-Cola (6)....... “olgate-Pal-P (2%). Collins & Alkman.... Col Fuel & Iron (2).. Colo & Sou 24 pf (4). Col Gas& El (2).... Col Gas & El pt A(6) Columb Graph (87¢) Columbian Carb (16) Comm Credit (2).... Comm Credit A (3).. Comm Cred pt B (2). Comm Inv Tregl Com Inv T cv pt(e6) Comm Solvents ($1) Comwlth & Sou(60e) Cmwith & Sou pf (6) Conde Nast Pub (2). Congoleum-Nairn. .. 2:85. Close. 37% 38 30 8% % 83% 108 33% l‘l!'fi l 108% = b1% 18% 46 51% 25% 24% 130 133 2 102% 102 2 61 Container(A) 4% Container(B). A 1% 82 108 321 173% 35 41% 26 47% 84 34% 18% 102% 51%, 17% 443, 501y 25% 24% 129% ~Prev. 1930.— High. Low. ‘um $0. 50% Contl Can (2%) 28 Contl Dia Fibre l) 59 Contl Insur (2.40). 5% Contl Motors 19% Contl Oil Cutler-Hammer(3%) Davison Chemical Deere & Co pf (7) Delaware & Hud Dome Mines (1). Dominton Strs (1.20) Drug Corporatn (4).. Duluth S S & Atl..... Dunhill Intl (34).. Du Pont de N (14.70) Dupont deN db pf(6) Duques Lt 1st pf (5) Durham Hoslery pf. . Eastman Kodak (18) Eaton Axle & 8 (3) Eitington pf (6%) Elec Auto Lite (6 Elec Storage Bat (5). Endicott-John pf (7) Eng Pub Serv ($1)¢.. 4+ Eng Pub Sve pf(53%) Equitable Bldg (2%) Eureka Carp Cl (4) .« Evans Auto Ldg 2%. Fed Motor Tr (80¢). . Fed Wat S, A (e2.40). Federated Dept Strs. Fid Pho Fire 1(2.60),-+- 2 81% . 81 2008 A0 254 Filine's pr (63%). Firestone T&R(1.60) Firestone T&R pf(6) First Nat Strs (23%), Fisk Rubber. i Fisk Rub 18t pf €v. .. Follansbee Bros (3) .. Foster Wheeler (2) .. Foundation Co. Fourth Natl Invest. . Fox Film (§4)... Freeport. Tex (15)... Fuller pr pf(17.94) Gabriel Snub (A).... Gamewell Co (5) Gardner Motor. Gen Am Investor: Gen Am Inv pf (6)... Gen Am Tnk Car(34) Gen Asphalt (4). Gen Bronze (2) Gen Cable..... Gen Cable (A) (4). ‘Gen Cable pf (7). Gen Cigar (4). Gen Electric (1.60) Gen Elec spec (60c Gen Food Corp (3). Gen Gas&E (A) new, 284 Gen G&EI ¢v pf(6).. Gen Ital Ed (a2.61).. Gen Mills (3). . 37% Gen Motors (13.30) 117% Gen Motors pf (7)... 32% Gen PublicSve (b6).. 8614 ‘Gen Ry Signab (5). 14 174 Gen Realty & UtI. 97% Gen Real & Ut pfis). . Glidden Co (h2). Gobel (Adolf). en Goodrich (BF) (4).. Goodyear Tire (5)... Goodyear 1st pf (7).. Gotham Silk H (2%4). Gotham S H pf (7)... 10s * Gotham pf xw (7). Gould Coupler. Graham-Paige. Granby Copper (8) Grand Silver Strs(1). Grand Unfon.......s Grand Union pf (3).. Granite City St (4) .. Grant (WT) (1).... % Grt North pf (5).. Grt North pf et (5)... % GtNectfsOP (a3%). Grt West Sug (2.80) Grigsby Grunow.... Gulf Mobile & North. Gulf Mo & N pf (6).. Gulf States Steel (4) Hanna (M A) 18t(7), Harbison Walk(234) Harbison W pf (6)..: Hayes Body:... Hershey Choc (8). Hershey Choe pt(15) Hollander Sons. ..... Houdallle Her Bfl) . Houston Ofl.... Howe Sound (t43) .. H'hold Fin pf (133 ). Hud&Man Ry (3.50). Hudson Motor (6). .. Hupp Motor Car (2).. Tilinois Central (7).. Ind Motor Cycle p: Indfan Refining. Indian Refining r Ingersoll Rand (4) Inland Steel (4)... Tnspiration Cop (4 Insurance Sh (45c Tnterboro Rap Tr: Intercontl Rubbe: Interlake Iron (1 Intl Agricultural Intl Bus Mach (n Intl Carriers Intl Cement Intl Combustion. Intl Comb Eng p! Intl Farvester (2 Int] Hydro El A Tntl Mateb pf (4) Tl Mer Marine (1). Tntl Nickl of Can(1), Intl Paper pf (7). . Intl Pap & P (A)3.40. Intl Pap & Pwr (B).. Int] Pap & Pwr (C)., Intl Pap&Pwr pf (7). Int Rys Cen A pf (5). 30s Intl Salt (6). Tntl Shoe (3) Intl Silver pf (7) ntl Tel & Teleg (2), %4 Toter Dept Strs (2).. Investors Eauity(2). Tsland Creek Coal(4) Jewel Tea (14)...... Johns-Manville (3).. Jordan Motor Car... K CP&L 1st pf B(6). ll)l 5 24 Rarstadt (R) (1.02). Kayser Jullus (4)... Keith-Albee-O pf(7). Kelly-Spring Tire. .. Kelly-Spring 8% pt. Kelsey Hayes (2)... Kelvinator Corp. Kendall Co pf (6). Kennecott Cop (5) Kinney (G R) (1). Klnocy (GR) pf (8). Radlo. . 36% Kroger Gr&Bak(n1). 111 » 3 » S o 2 S » 3 o » B a8 . TR 117% 117% 2% 12% 1% 17% 120 120 4 88 83 87 ' 81 125 126 176% 176 137% 138 247% 250% 36 36 228 233 8% 8% 26'% 84 1% 1% 36% 36% 135 186% 119% 119% 102 102 50 50 247% 248% 30% 44% 43% 43% 105% 108% 104 101 4107 107 6% 101% 9614 D’l% 111% 111% 111% 4% T4k T4%% 112% 112% 112% 6315 ' 64 2 64 3 ]Dfi'i 102‘5 102% 1 NONE S AT ARG O-AR BN TS prBe~Stean 11 Bl‘h M% b4 9. 10s 3 64 17 32 .+ 310 56% 17 52% 52 60s 63% 63% 29 29% 2:21% 21% 21% 6% 6% 5% 18% 18 ~ 18% 3 48 47 8 2 . 11% 11% 1% ° 3 40% - 39% 394 4. 36%: 35% gflfi- 1 9614 , 964 964 24% . 26 1 831 83% 831 8 56 b6 5651 4% 4% 4% 18% 18% 3 42% 42 42 9. 894 87 8T% 1 248 24 24 8 4T 46% 46% 53 baw 52 94 94 94 1230 510 710 1 % 7T1% 71% 2 5% bu % 8 16% 15% 16% 1 104% 104% 104% 49 108% 105% 105% 1 6T GanRefra¢ (14%).vv - Gen Theat Equip vie. ns 1% Gillette Saf Raz(nb). 226 .”11%' Gimbel Bfothers. . 6 80% 6% Gimbel Bros pf (1) 28 11 57 cess 100 6415 35 24% 65% 62 105 105 56% 56% 90y 87% 88 1% 1% 1% 59% 57% 57 17% 16% 16% 101% 101 101% 41 41 4l 53% 653% b53% 50% 49% 49% 124% 124% 124%.124 48 98 6415 36% 25% 62 105 56% IB% A% 4T% 83% B80W 81% 20 19% 19% 5 80% 79% 80 34% 33% 33% 16% 16% 16% AT 45% 464 46% 44% 45 88 102 10]'& mz 20 20% £ u 408 8314 16 Johns-Manv pf (7).. 50s Jones & Langh pf(7) 20- 1208 838 2% 3% 72% 73% 14 10% 3914 45 17% 428 468 35% 9474 8914 204 291 56 46% 4T 21% 21% 134 134 135 136 291% 295 10% 10% 50 50 22% 22y 20% 2015 232 232 92% 923 19% 208 16% 16% 38% 6 25% 68% 681 106 107% 50 50% 89% 90 294 299 36% a7 821 821 28% 29 21% 21% 16 16 81 81 0% T0% 83 581 58 108 108 %77 3 3 i B1% T 254 24% 245, 3 39% 39 39% 4 55 641 Bay 1215 1228 121% 121% 4 122V 122% W 3% 8% 13 113 12% " 12% 311 811 145 149% [ 32 32 364 361 4 408 18 m7~¢. 107% 32% 325 e B4 33% 33% 87 36% 364 bttt (Continued on Page 14.) - D." C, THURSDAY, APRIL 24, 1930. STOCKS IN RALLY AFTER EARLY DROP Market Continues Two- Sided—Selling in Great Volume in Morning. BY STANLEY W. PRENOSIL, Associated Press Pinancial Writer. NEW YORK, April 24—The stock market displayed another complete re- versal of form today, selling off in the morning when pressure was resumed against the coppers and a wide assort- ment of specialties, and then rallying briskly under the leadership of the amusements, public utilities and rub- bers. By early afternoon many of the early declines had been substantially reduced or converted into gains, and a long list of issues was selling 1 to 7! points above yesterday's final quota- tions, Oils Active. ‘The day’s business news failed to pro- vide much stimulus to bullish en- thusiasm. Another flock of quarterly earnings reports made their appear- ance and most of them made unfavor- able comparison with the first quarter of last year, but there were a few con- spicuous exceptions, notably Yellow Truck and Air Reduction. Settlement of the gasoline price-cutting war in the Dutch East Indies between the Standard Oil of New York and Royal Dutch- Shell interests, coupled with predictions of an early increase in California crude prices and a probable segregation of the natural gas properties of Standard Oil of New Jersey, brought fresh buying into the oil shares. Widespread predictions of a further cut in the price of copper to 12 cents a pound,. although lacking official veri- fication, caused heavy liquidation of the copper res. American Smelting, Anaconda, Kennecott, Cerro De Pasco Inspiration, Phelps Dodge and Andes all dipped to new low levels for the year, most' of the losses being held to & point or less. Early ndumon in divi- dends by some of the high cost pro- ducers is looked for. J. 1. Case, which recently recorded a spectacular advance into new high ground,” broke 15 points to 340 on oniish bt quickly snapped back to 357. Allled Chemical sold down 6% points and United Aircraft dropped 6 in response to the new agreement for the acquisition of National Air Trans- port_stock on a basis of three shares of National for one of United. Gulf States Steel fell 5 points and Colum- bian Carbon, Checker Cab, Brooklyn Union Gas, Pittsburgh Coal preferred, Gotham Silk Hoslery, Continental Bak- ing A, Hudson Motors and several others sold down 2 to 4 points. Radio Is Feature. Radio was heavily bought in the early afternoon, crossing 69 to a new 1930 high for a gain of more than 3 points. Shubert Theaters ran up over 7 points to a new top above 31. Keith-Albee preterred Pathe A, and Radio-Keith- rpheum advanced 1% to 3 points hlxhcr to new peak prices. International Telephone crossed 77 to a new peak for the year and Louisville Gas & Xlectric touched a new high around 50. People’s Gas jumped 413 points and Electric Power & Light, Goodyear Rubber, Goodrich Rubber, United States 1st preterred Ingersoll Rand, Worthington Pump, Air Reduc- ghn and United Cll'bon all advanced polnu or more. x| GROUP BANKING PLAN IS URGED BY RAND By the Assoclated Press. Group banking was described as the logical means of strengthening the Na- tion’s banking structure by George F. Rand of Buffalo, N. Y., president of the Marine Midland Corporation, testifying today before the House banking com- mittee. Defending the group banking system in the committee’s investigation looking to formulation of legislation to govern branch banking, Mr. Rand said that “group banking is the natural result of economic. endencies.” “The appalling record of bank fail- ures,” Rand sald, “demonstrates the need of making available to many com~ munities the experience and judgment of the best banking executives. Econo- mies in operation and greater efficiency in management are bound to follow.” —_— BANK CLEARINGS. NEW YORK, April 24 (Special).— New York Bank cl 1gs, today, $1,224,- 000,000; a Y!lr lxo 1,252,000,000. New York Bank bal lances, today, $185,000,- 000; a yean #go, 3140 000,000. New York Federal Reserve credit balances, ml!, $162,000,000;" & year- ago, $117,- Money to Loan e raviliing interest sud” sommimmion. Joupl: 1 Wellcr the '5' A FIRST TRUST LOANS Reasonable Rates Courteous Treatment THOS. F. JARRELL Co. 721 10th Street NW. _ Nat'l 0765 TRUSTEED SHARES / L INVESTMENT for tn; demand Arn‘t uucl-ll{. nuuu 1o v;"a’{.’.’éflnu;:t Tandsand funds'of ' orsenizations. Sold in Lots—$100.00 Up Call or Write Standard Collateral Shares Corporlhon Woodward Bullding. t. 8783 First Mortdage Loan App]icafions Invited at 5)5% Construction Loans Glover & Flather 1508 H St. N.W. National 1753 “ Now Ready for Distribstion =The 1929 Analysis of == AMERICAN INVESTMENT ««TRUSTS.. Standardized A Authoritative Compiled with cooperation of 317 companies A copy will be sent upon request GROVER O’NEILL & CO. 1930 ALEX. BROWN «* SONS ;4 Underwriters - Distributors INVESTMENT SECURITIES Wasminoron Orrics 737 15th Street N: W, Telephone, National 053 Mamm Orricz - Barvivens National Metropolitan Bank 15th St., Opposite U. S. Treasury 1814—Oldest National Bank in Cycles the District of Columbia—1930 of Prosperity —as well as of depres- sion have both tested the policies of this veteran bank—and The politan” has every storm, succe: “Metro- weathered ssfully, for over a hundred and sixteen years. {Have YOU an equally strong banking connection? 3% on Savings We appreciate the value of promptness in the matter of real estate loans and have made this a very special feature of our service. ur wide experi- ence and splendid equipment permits us to accomplish speed without sacrificing efficiency in the least degree. 'Year Loans On Improved Real Estate IN Nearby Montgomery County and the District of Columbia Lowest Interest Rates & Charges BossmrHELPS Founded 1907 Loan Correspondent John” Hancock Mutual Life Insurance C 417 K St. National 9300 FINANCIAL. Consult Us Regarding Your Maturing Mortgage. LONG-TERM REAL ESTATE LOANS WE MAKE FIRST MORTGAGES ON Homes, Apartments and Business Properties in the District of Columbia and Nearby Maryland and Virginia RANDALL H. HAGNER & COMPANY, INC. 1321 Connecticut Avenue Decatur 3600 . Har‘liu- Lo_cn Correspondent New York Lifé Insurance Company FIRST MORTGAGES LOOKING AHEAD —you'll find still further sanc- tion of our FIRST MORTGAGES as an investment for your sur- plus funds—because in the inter- vening years—between the day of investment and the day of maturity—there is no chance for depreciation of principal. All the while you are sure of the definitely stipulated interest. May be purchased in amounts from $250 up. B. F. SAUL CO. National 2100 925 15th St. N.W. THERE IS NO SUBSTITUTE FOR SAFETY FINANCING AT LOW GOST ° First Mortgage Funds (Three Years or Longer) Loans on residence and busi- ness properties in the District of Columbia and nearby Maryland suburbs . . . Ample fands, lower interes?, prompt ap- provals, valuable prepayment privileges. Three-year loans on newer properties without amortization 3% H. L. Rust Company ESTABLISHED 1889 1001 Fifteenth Street ~ National 8100 Loan Correspondent for *‘The Pradential’* The Star of South Africa BLACK shepherd boy named Swartzboy, prodding stony ground with a stick picked up a lump of earth. That evening he handed his master, Nie Kirk, a diamond—the Star of South Africa —weighing 8814 carats, He re- ceived about $2,000 for it, with which he.drank himself to death. Eighty-eight carat diamonds do not roll around the streets of Wash- ington. But those who seek for- tune’s favors will find that a little prodding into their weekly pay en- velopes will uncover- hidden riches ~—wealth in the form of that neg- lected and carelessly spent portion of their salary which, when saved, soon grows into a tidy sum. And wise people, of course, do not dissipate such sums in an orgy of spending. They invest them in sound securities such as the 6 per cent ' First Mortgage Notes sold through Swartzell, Rheem & Hen- sey Company, which for over sixty- one years have proven safe and profitable. Let us send you our booklet—or better, let us tell you the advant- ages of our mortgages and the se- curity of property and company be- hind them. SWARTZELL, RHEEM & HENSEY Co. MORTGAGE BANKERS 727 15 STREET N W./ WASHINGTON D.C.